2021 was a turning point for Vega Sicily. The family-controlled company Alvarez Melquiriz not only did he improve his profits again, but he managed to boost sales up to 60 million euros in income, improving the result of the year of the pandemic by 8% and achieving figures not seen until now. The result has been communicated by the family business in an act with different media on the occasion of the celebration of its 40th anniversary.
Another economic indicator of the group that improved ostensibly was the operating profit, as a sign of the stability of the business despite the years of turmoil generated by the coronavirus health crisis. Specifically, the operating profit stood at 37 million euros, thanks mainly to the rise in the average price of the bottle. Paul Alvarez, CEO of the company, has linked this result to the production of the crops, which “vary each year depending on the quality”.
In the act, in which besides Pablo Álvarez has attended Martha Alvarez, its president, and Antonio Menendez, general director of Vega Sicilia, the calendar of events for 2022 has been detailed with different milestones to celebrate. Highlights include the appointment with international distributors for three days at the Vega Sicilia estate or the tasting of 40 magnums at The cellar of Can Roca (Barcelona) during the next month of September. Another milestone will be the publication of a commemorative book at the end of the year, which will be published by Factory and is currently being prepared by the journalist and writer Alfonso Armada next to the photographer Louis of the Wings.
The company continues with the idea of strengthening itself both in Spain, its first market, and abroad. Tempos Vega Sicilia currently exports 70% of its production and has more than 250 distributors. In the domestic market, the company has 3,700 clients and a waiting list of 2,500 people to obtain a place in the house. Private customers are already 2,700 and account for 10% of sales in Spain. The rest is directed to food groups (60%) and hospitality (30%).
New winery in Galicia
The main representatives of the family have taken the opportunity to announce the creation of their new winery, which will be located in the Rías Baixas (Galicia) and will be the sixth of the group. The company already has wineries in the Ribera del Duero Denomination of Origin, another in La Rioja with the Rothschild family and another in Toro (Pintia). Outside of Spain it has the Tokaj-Oremus winery in Hungary.
The goal this time is to make white wines with grapes Albariño, the classic of the region. The warehouse will be built in Growing, in the province of Pontevedra, where 24 hectares of vineyards and land have already been purchased, mainly in Condado de Tea, in the upper part of the river Miño. Tempos Vega Sicilia is expected to undertake an investment of approximately 20 million euros between the vineyard and the winery for this project, as explained by the directors to the attendees. This money will come both from own financing and from others (bank), although the mix is yet to be determined.
Two wines will be produced in the new winery in Galicia. The first of them will be called Deiva and will be aged for two years; the second has been baptized as Arnela and will be the target premium of the house, aged for three years. The first harvest of Deiva is scheduled for 2023 and will be released on the market in 2025. The objective is to reach a total production of 300,000 bottles with the two wines, as long as the quality of the harvests is as expected.